{"data":{"id":"us-tx/tex.-finance-code-36.101","jurisdiction":"us-tx","citation":"Tex. Finance Code § 36.101","heading":"INITIATING VOLUNTARY DISSOLUTION.","body":"(a) A state bank may initiate voluntary dissolution and surrender its charter as provided by this subchapter:\n(1) with the approval of the banking commissioner;\n(2) after complying with the provisions of the Business Organizations Code regarding board and shareholder approval for voluntary dissolution; and\n(3) by filing the documents as provided by Section 36.102.\n(b) The shareholders of a state bank initiating voluntary dissolution by resolution shall appoint one or more persons to act as the liquidating agent or committee. The liquidating agent or committee shall conduct the liquidation as provided by law and under the supervision of the bank's board. The board, in consultation with the banking commissioner, shall require the liquidating agent or committee to give a suitable bond.\nActs 1997, 75th Leg., ch. 1008, Sec. 1, eff. Sept. 1, 1997.\nAmended by:\nActs 2007, 80th Leg., R.S., Ch. 237 (H.B. 1962), Sec. 49, eff. September 1, 2007.","path":["FINANCE CODE","TITLE 3. FINANCIAL INSTITUTIONS AND BUSINESSES","SUBTITLE A. BANKS","CHAPTER 36. DISSOLUTION AND RECEIVERSHIP","SUBCHAPTER B. VOLUNTARY DISSOLUTION"],"source_url":"https://statutes.capitol.texas.gov/Docs/FI/htm/FI.36.htm#36.101","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:13Z","sha256":"0e02db96e54d318953cdcf6fcc36085d50cfcbc09f5b26ee3661d67cc27093d8","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-finance-code-36.005","next":"us-tx/tex.-finance-code-36.102"},"notice":"GroundRules: Original legal text. Not legal advice."}